Subsea 7 acquires Toisa offshore construction vessel

Subsea 7 has finalised the acquisition of 2009-built multi-purpose offshore construction and dive support vessel Toisa Pegasus.

Subsea 7 will rename the vessel Seven Pegasus, which will primarily be used to support Subsea 7’s operations in the North Sea and Asia Pacific.

John Evans, chief operating officer of Subsea 7, commented: “This acquisition reinforces our leading diving capabilities and reflects our strategy to actively manage our fleet composition to meet our client’s requirements and market conditions.”

The IHC-built vessel, worth around $40m according to VesselsValue, will commence operations in the second quarter of this year after undergoing a docking and crew familiarisation programme.

The vessel was previously owned by Toisa, which filed for Chapter 11 in the Southern District of New York Bankruptcy Court in January 2017.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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